Microfinance can help in documentation of economy owing to its outreach: Dr. Hafeez

December 4, 2019: Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh says microfinance can help in documentation of economy owing to its outreach.

Addressing a ceremony in Islamabad on Wednesday, he said significant progress has been made in the microfinance sector and now the sector is yielding positive results in the shape of creation of job opportunities and boosting economic activities in the country.

The Adviser said microfinance is also proving helpful in providing solutions to many challenges facing the country. He said we have low saving rates in the country however; the microfinance can be helpful to address this issue as well.

He said the government inherited grim economic situation laden with debts. He said the current account deficit was also on its high level but, we are now witnessing economic turnaround as the economic environment is becoming stable due to prudent economic policies of the incumbent government.

The Adviser said the foreign direct investment is significantly increasing which indicates the growing confidence of the international community on improving economic prospects in Pakistan.

He said the government is also providing incentives to the exporters to encourage and promote exports.  

Radio Pakistan